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Joint Economic Committee Democrats

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Aug 03 2018

Newsweek - Trump’s Tax Plan is Failing to Give American Workers the Wage Growth he Promised

Friday’s jobs report showed unemployment at 3.9 percent, an 18-year low. But even with historic lows, workers' pay has only increased by 2.7 percent since last year. With inflation hovering around 2 percent, that’s an adjusted 0.7 percent growth in earnings. A wage earner would have to bring in more than $570,000 to see that promised $4,000 increase in pay. Instead, the average worker is seeing a weekly pay raise of just $16.42. “This jobs report provides the latest evidence that the Republican tax law has done little to raise real wages in this country,” said Senator Martin Heinrich, ranking member of the Joint Economic Committee, in a statement.

Aug 03 2018

News 12 Connecticut - Rep. DeLauro holds press conference on Republican Tax Law

Rep. Rosa DeLauro held a press conference Thursday to release a report outlining the effects of the Republican Tax Law. The report was prepared by the Democratic staff of the Joint Economic Committee. She used the report to highlight how the law is impacting Connecticut's working families and seniors. It details how the $2 trillion in tax cuts for millionaires, billionaires, and corporations come at the expense of Republican budget cuts to programs including Medicare, Medicaid, social security and the Affordable Care Act.

Jul 27 2018

JEC Dems Report on Medicare: Protecting Seniors and Families

Ahead of the 53rd anniversary of Medicare being signed into law on July 30, 1965, Joint Economic Committee Democrats released a report today that highlights the importance of Medicare to its beneficiaries, their families, and the economy in light of ongoing Republican attacks to cut the program. The report emphasizes that Congress should act to protect and strengthen Medicare, not undermine the program’s long history of success.

Jul 27 2018

JEC Dems Release Report in Response to GDP Numbers

Joint Economic Committee Democrats today issued a report in response to this morning’s release of the second-quarter gross domestic product (GDP) estimates by the U.S. Department of Commerce. The new JEC report details that large gains for a small group can keep total income growing, while many Americans continue to see their incomes shrink. The report also emphasizes that while GDP is an important indicator, it doesn’t show the entire country’s economic picture, and that the Republican tax plan does in fact benefit the wealthy while leaving working Americans behind.

Jul 25 2018

Heinrich Opening Statement at JEC Hearing on Access to Capital

U.S. Senator Martin Heinrich (D-N.M.), Ranking Member of the Joint Economic Committee, delivered the following statement at today’s hearing entitled “The Innovation Economy, Entrepreneurship, and Barriers to Capital Access.” In his remarks, Senator Heinrich highlighted the recent Joint Economic Committee Democrats report, “Investing in Rural America,” that emphasizes that tribal and rural communities often struggle to reach mainstream financial institutions, and need federal resources to successfully secure capital and technical assistance.

Jul 14 2018

ABC News - Paul Ryan says economy is booming, but warns that new tariffs 'are not the solution'

Beyond tariffs, Rep. Don Beyer, D-Va., said Republicans had ruined the economy for working-class Americans. “The Trump Administration and the GOP Congress have one major legislative accomplishment: gutting Medicare and Social Security to slash taxes for CEOs and the wealthy," Rep. Don Beyer, D-Va., a member of the Joint Economic Committee, told ABC News in a written statement. "Because of their policies, wages are stagnant and health care costs are soaring.

Jul 13 2018

Carlsbad Current-Argus - Heinrich questions NPS officials on maintenance backlog

Rural communities such as Carlsbad especially rely on national parks for tourism – a major driver of rural economies, Heinrich said. Heinrich referenced data from a recent report by the Joint Economic Committee he said showed that rural communities who host NPS units recovered faster from the recession in 2007.

Jul 06 2018

Heinrich Statement on June Jobs Report

Instead of building off continued economic growth and proposing policies to create jobs and raise wages, the Trump administration has started a trade war that threatens to drive prices even higher for working Americans. Farmers and families across the country are already feeling the effects of these tariffs that risk their economic security and livelihood. Everyone in New Mexico – from dairy producers, to pecan growers, to small brewers – is paying the price for the president’s reckless and short-sighted actions.